Mall of the Emirates announces $272 million redevelopment project

RetailME Bureau

Mall of the Emirates in Dubai has announced a multi-stage redevelopment project ‘Evolution 2015’ worth an estimated $272 million (AED1 billion). Evolution 2015 will include a new fashion district, luxury retail and sports and leisure precinct, alongside unique dining concepts and an expansion of VOX Cinemas.

The first phase of the project – a new, $27 million (AED100 million) fashion district dedicated to contemporary fashion – is expected to be completed in early 2014. Featuring more than 30 international stores, including several cafes, the new fashion district will transform a key precinct in the mall’s east wing, on the first floor – a 53,800 sqft area currently offering a varied retail mix of textile, arts and gift stores.

The project involves a complex re-merchandising strategy that includes integrating existing brands with new fashion options. Currently, more than 45% – or 250 of the mall’s 560-plus stores — are dedicated to fashion. In 2010, Mall of the Emirates underwent an expansion to launch the Fashion Dome, a 113,000 sqft precinct dedicated to more than 80 luxury brands and up-market dining. In 2012, 44% of the mall’s total sales came from the fashion category, demonstrating the strength of the fashion retail market in the UAE.

“Evolution 2015 is Mall of the Emirates’ most ambitious project to-date with a total investment of AED1 billion. The onset of phase one, which will create a unique fashion and lifestyle destination, will complement our existing luxury and mid-market fashion offer,” says Dimitri Vazelakis – executive managing director – shopping malls for Majid Al Futtaim Properties.

“The new fashion district will support the emirates’ wider aspirations towards Dubai Fashion 2020, and will define a new meeting point for our visitors, positioning Mall of the Emirates at the forefront of the region’s fashion retail industry,” adds Vazelakis.